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NCAA Tournament Pitfalls to Avoid

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At this point, many of you have already filled out your NCAA March Madness brackets for a pool with coworkers or classmates. Even if you haven't seen a basketball game all year, it makes the first weekend of the tournament exciting to have your five dollars riding on the outcome of so many games, and after all, the pool winner usually isn't one of the rabid sports fans in the office. There can be a downside to this seemingly harmless fun, though. Here are a few pitfalls to avoid while betting on the tournament.

Don't Short Kansas

Commodities traders have long used a more sophisticated way to gamble on the tournament than the standard old paper bracket pool. Instead, they treat each team's tournament chances as tradable commodities that they can then buy, sell, and short according to their hunches. As a team's perceived road to the championship gets easier due to upsets or tougher due to injuries, the prices of each team's shares fluctuate accordingly. The eventual champion's shares are all worth some predetermined amount, usually $100.

While a bad opening weekend can't wipe you for the entire tournament out like it does in a standard bracket pool, these systems also lack the whole "put in your five dollars, then sit back and watch" safeguard on your wallet. At various points, the ability to keep buying in has led to some serious debacles. In 1991 a clerical assistant at Paine Webber had a strong feeling that Duke was about to go belly-up and kept shorting the Blue Devils. If you thought Kentucky fans were the only ones who hurt after Christian Laettner's miracle shot to send Duke to the Final Four and their eventual championship, think again; this young clerk lost $330,000 and his job. Another clerk supposedly lost $200,000 trying the same trick with Kentucky during their title campaign in 1996.

Try to Keep Your Job

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Everyone loves a good office pool, right? Maybe not. According to a 2006 estimate by consultants at Challenger, Gray, & Christmas, the tournament costs employers upwards of $3.8 billion in lost productivity. While the accuracy of this figure is certainly debatable, it's hard to argue that anyone's more productive while checking four scoreboard tabs every fifteen seconds and then cross-referencing them against their brackets.

Some companies have taken strikingly firm stances against pools. In 1997 Fidelity Investments fired nine employees and disciplined 16 more for participating in football and basketball pools via office email. No word on whether or not Fidelity was just being reasonable; does an investment firm really need someone who picks a 16 seed to win a first-round game every year?

No, Really, Try to Keep Your Job

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In 2003, Rick Neuheisel was the successful young coach of the University of Washington's football team. He'd also received some nice little bumps to his income the previous two years when he pocketed some serious cash in a neighborhood March Madness pool. Participants in Neuheisel's pool picked single teams rather than filling out brackets, and when Maryland won the title in 2002, Neuheisel's $7,000 bid for the Terrapins' rights in the pool returned over $25,000. Even better, the University of Washington had explicitly told him in a memo that off-campus pools like this were kosher with the NCAA.

Whoops! Turns out the pools weren't legal with the NCAA, and the Huskies' compliance office had given Neuheisel some bad information. When Neuheisel wasn't forthcoming with investigators, the school fired him for participating in the pools, and he went from golden boy coach of a Pac-10 power to volunteer coach at a local high school.

In the end, things turned out okay for Neuheisel, though. Since Washington had told him it was okay to enter the pool, he ended up winning a $4.5 million settlement against the school and the NCAA. After a stint as quarterbacks coach for the Ravens, Neuheisel recently got a new head-coaching gig at his alma mater, UCLA, a conference rival of the Washington Huskies.

Don't Ruin It for Everyone

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Part of the allure of winning a pool is that your income will be tax-free, right? You get an envelope of cash the government doesn't know about, and you can spend it on whatever whim you'd like. That used to be true of the March Madness pool at Jody's Club Forest in Staten Island, an annual event that drew throngs of bettors to line up outside the tavern to enter a bracket. The pool, which opened in 1977, cost $10 to enter. In 2006, the pot was $1.5 million.

The pool was technically legal since Jody's wasn't taking any money out of the pot for running the pool, but one winner started to muck things up by filing his winnings with the IRS. Apparently such a large windfall attracted unwanted IRS scrutiny for other recent winners as well as the bar itself. As a result, the pool has been on hiatus for the last two years.

Ethan Trex grew up idolizing Vince Coleman, and he kind of still does. Ethan co-writes Straight Cash, Homey, the Internet's undisputed top source for pictures of people in Ryan Leaf jerseys.

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8 of the Weirdest Gallup Polls
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Born in Jefferson, Iowa on November 18, 1901, George Gallup studied journalism and psychology, focusing on how to measure readers’ interest in newspaper and magazine content. In 1935, he founded the American Institute of Public Opinion to scientifically measure public opinions on topics such as government spending, criminal justice, and presidential candidates. Although he died in 1984, The Gallup Poll continues his legacy of trying to determine and report the will of the people in an unbiased, independent way. To celebrate his day of birth, we compiled a list of some of the weirdest, funniest Gallup polls over the years.

1. THREE IN FOUR AMERICANS BELIEVE IN THE PARANORMAL (2005)

According to this Gallup poll, 75 percent of Americans have at least one paranormal belief. Specifically, 41 percent believe in extrasensory perception (ESP), 37 percent believe in haunted houses, and 21 percent believe in witches. What about channeling spirits, you might ask? Only 9 percent of Americans believe that it’s possible to channel a spirit so that it takes temporary control of one's body. Interestingly, believing in paranormal phenomena was relatively similar across people of different genders, races, ages, and education levels.

2. ONE IN FIVE AMERICANS THINK THE SUN REVOLVES AROUND THE EARTH (1999)

In this poll, Gallup tried to determine the popularity of heliocentric versus geocentric views. While 79 percent of Americans correctly stated that the Earth revolves around the sun, 18 percent think the sun revolves around the Earth. Three percent chose to remain indifferent, saying they had no opinion either way.

3. 22 PERCENT OF AMERICANS ARE HESITANT TO SUPPORT A MORMON (2011)

Gallup first measured anti-Mormon sentiment back in 1967, and it was still an issue in 2011, a year before Mormon Mitt Romney ran for president. Approximately 22 percent of Americans said they would not vote for a Mormon presidential candidate, even if that candidate belonged to their preferred political party. Strangely, Americans’ bias against Mormons has remained stable since the 1960s, despite decreasing bias against African Americans, Catholics, Jews, and women.

4. MISSISSIPPIANS GO TO CHURCH THE MOST; VERMONTERS THE LEAST (2010)

This 2010 poll amusingly confirms the stereotype that southerners are more religious than the rest of the country. Although 42 percent of all Americans attend church regularly (which Gallup defines as weekly or almost weekly), there are large variations based on geography. For example, 63 percent of people in Mississippi attend church regularly, followed by 58 percent in Alabama and 56 percent in South Carolina, Louisiana, and Utah. Rounding out the lowest levels of church attendance, on the other hand, were Vermont, where 23 percent of residents attend church regularly, New Hampshire, at 26 percent, and Maine at 27 percent.

5. ONE IN FOUR AMERICANS DON’T KNOW WHICH COUNTRY AMERICA GAINED INDEPENDENCE FROM (1999)

Although 76 percent of Americans knew that the United States gained independence from Great Britain as a result of the Revolutionary War, 24 percent weren’t so sure. Two percent thought the correct answer was France, 3 percent said a different country (such as Mexico, China, or Russia), and 19 percent had no opinion. Certain groups of people who consider themselves patriotic, including men, older people, and white people (according to Gallup polls), were more likely to know that America gained its independence from Great Britain.

6. ONE THIRD OF AMERICANS BELIEVE IN GHOSTS (2000)

This Halloween-themed Gallup poll asked Americans about their habits and behavior on the last day of October. Predictably, two-thirds of Americans reported that someone in their house planned to give candy to trick-or-treaters and more than three-quarters of parents with kids reported that their kids would wear a costume. More surprisingly, 31 percent of American adults claimed to believe in ghosts, an increase from 1978, when only 11 percent of American adults admitted to a belief in ghosts.

7. 5 PERCENT OF WORKING MILLENNIALS THRIVE IN ALL FIVE ELEMENTS OF WELL-BEING (2016)

This recent Gallup poll is funny in a sad way, as it sheds light on the tragicomic life of a millennial. In this poll, well-being is defined as having purpose, social support, manageable finances, a strong community, and good physical health. Sadly, only 5 percent of working millennials—defined as people born between 1980 and 1996—were thriving in these five indicators of well-being. To counter this lack of well-being, Gallup’s report recommends that managers promote work-life balance and improve their communication with millennial employees.

8. THE WORLD IS BECOMING SLIGHTLY MORE NEGATIVE (2014)

If you seem to feel more stress, sadness, anxiety, and pain than ever before, Gallup has the proof that it’s not all in your head. According to the company’s worldwide negative experience index, negative feelings such as stress, sadness, and anger have increased since 2007. Unsurprisingly, people living in war-torn, dangerous parts of the word—Iraq, Iran, Egypt, Syria, and Sierra Leone—reported the highest levels of negative emotions.

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11 Times Mickey Mouse Was Banned
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Despite being one of the world’s most recognizable and beloved characters, it hasn’t always been smooth sailing for Mickey Mouse, who turns 89 years old today. A number of countries—and even U.S. states—have banned the cartoon rodent at one time or another for reasons both big and small.

1. In 1930, Ohio banned a cartoon called “The Shindig” because Clarabelle Cow was shown reading Three Weeks by Elinor Glyn, the premier romance novelist of the time. Check it out (1:05) and let us know if you’re scandalized:

2. With movies on 10-foot screen being a relatively new thing in Romania in 1935, the government decided to ban Mickey Mouse, concerned that children would be terrified of a monstrous rodent.

3. In 1929, a German censor banned a Mickey Mouse short called “The Barnyard Battle.” The reason? An army of cats wearing pickelhauben, the pointed helmets worn by German military in the 19th and 20th centuries: "The wearing of German military helmets by an army of cats which oppose a militia of mice is offensive to national dignity. Permission to exhibit this production in Germany is refused.”

4. The German dislike for Mickey Mouse continued into the mid-'30s, with one German newspaper wondering why such a small and dirty animal would be idolized by children across the world: "Mickey Mouse is the most miserable ideal ever revealed ... Healthy emotions tell every independent young man and every honorable youth that the dirty and filth-covered vermin, the greatest bacteria carrier in the animal kingdom, cannot be the ideal type of animal.” Mickey was originally banned from Nazi Germany, but eventually the mouse's popularity won out.

5. In 2014, Iran's Organization for Supporting Manufacturers and Consumers announced a ban on school supplies and stationery products featuring “demoralizing images,” including that of Disney characters such as Mickey Mouse, Winnie the Pooh, Sleeping Beauty, and characters from Toy Story.

6. In 1954, East Germany banned Mickey Mouse comics, claiming that Mickey was an “anti-Red rebel.”

7. In 1937, a Mickey Mouse adventure was so similar to real events in Yugoslavia that the comic strip was banned. State police say the comic strip depicted a “Puritan-like revolt” that was a danger to the “Boy King,” Peter II of Yugoslavia, who was just 14 at the time. A journalist who wrote about the ban was consequently escorted out of the country.

8. Though Mussolini banned many cartoons and American influences from Italy in 1938, Mickey Mouse flew under the radar. It’s been said that Mussolini’s children were such Mickey Mouse fans that they were able to convince him to keep the rodent around.

9. Mickey and his friends were banned from the 1988 Seoul Olympics in a roundabout way. As they do with many major sporting events, including the Super Bowl, Disney had contacted American favorites to win in each event to ask them to say the famous “I’m going to Disneyland!” line if they won. When American swimmer Matt Biondi won the 100-meter freestyle, he dutifully complied with the request. After a complaint from the East Germans, the tape was pulled and given to the International Olympic Committee.

10. In 1993, Mickey was banned from a place he shouldn't have been in the first place: Seattle liquor stores. As a wonderful opening sentence from the Associated Press explained, "Mickey Mouse, the Easter Bunny and teddy bears have no business selling booze, the Washington State Liquor Control Board has decided." A handful of stores had painted Mickey and other characters as part of a promotion. A Disney VP said Mickey was "a nondrinker."

11. Let's end with another strike against The Shindig (see #1) and Clarabelle’s bulging udder. Less than a year after the Shindig ban, the Motion Picture Producers and Directors of America announced that they had received a massive number of complaints about the engorged cow udders in various Mickey Mouse cartoons.

From then on, according to a 1931 article in Time magazine, “Cows in Mickey Mouse ... pictures in the future will have small or invisible udders quite unlike the gargantuan organ whose antics of late have shocked some and convulsed others. In a recent picture the udder, besides flying violently to left and right or stretching far out behind when the cow was in motion, heaved with its panting with the cow stood still.”

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